Public Employees Retirement Association of Colorado
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Public Employees Retirement Association of Colorado reported 1,865 stock positions worth $27.2 billion. Its top holding was Nvidia (NVDA) at 8.1% of the portfolio, followed by Apple (AAPL, 6.8%) and Microsoft (MSFT, 6.5%). Compared with Q3 2025, it opened 18 new positions, sold out of 43, added to 67 and reduced 256. The biggest buy was RTX (RTX, shares +595%) and the biggest sale Oracle (ORCL, shares −85%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0000315297
- Portfolio Value
- $27.2B (Q4 2025)
- SEC Filing
- 0000315297-26-000003 ↗ filed Feb 13, 2026
Holdings Value
Holdings 1,865 stocks · $27.2B
| NVDA Nvidia Corp. | 8.08% | 11,784,056 | $2.2B | Reduce -3.0% |
| AAPL Apple Inc. | 6.80% | 6,801,856 | $1.8B | Reduce -2.0% |
| MSFT Microsoft Corp. | 6.52% | 3,665,406 | $1.8B | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 5.70% | 4,950,634 | $1.5B | Reduce -3.5% |
| AMZN Amazon.com Inc. | 4.25% | 5,003,470 | $1.2B | Reduce -8.1% |
| META Meta Platforms Inc. Class A | 3.04% | 1,252,440 | $826.7M | Reduce -1.8% |
| AVGO Broadcom Inc. | 2.77% | 2,173,391 | $752.2M | Add +4.7% |
| JPM JPMorgan Chase & Co. | 2.20% | 1,858,185 | $598.7M | Add +7.3% |
| V Visa Inc. Class A | 1.81% | 1,400,152 | $491.0M | Reduce -1.6% |
| WMT Walmart Inc. | 1.72% | 4,202,281 | $468.2M | Reduce -2.0% |
| LLY Eli Lilly & Co. | 1.65% | 417,597 | $448.8M | Add +14.6% |
| AXP American Express Co. | 1.41% | 1,038,326 | $384.1M | Add +1.9% |
| TSLA Tesla Inc. | 1.36% | 820,657 | $369.1M | Reduce -3.1% |
| MS Morgan Stanley | 1.31% | 2,009,091 | $356.7M | Add +7.1% |
| COST Costco Wholesale Corp. | 1.28% | 403,618 | $348.1M | Reduce -7.1% |
| PM Philip Morris International | 1.26% | 2,130,917 | $341.8M | Reduce -1.9% |
| MA Mastercard Inc. Class A | 1.24% | 589,404 | $336.5M | Reduce -2.1% |
| XOM Exxon Mobil Corp. | 1.22% | 2,762,875 | $332.5M | Reduce -2.5% |
| CRM Salesforce Inc. | 0.90% | 920,905 | $244.0M | Reduce -1.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.84% | 754,800 | $229.4M | No change |
| MCK McKesson Corp. | 0.81% | 269,282 | $220.9M | Add +74.9% |
| GE General Electric filed as GE AEROSPACE | 0.81% | 711,913 | $219.3M | Reduce -19.4% |
| RTX RTX Corp. | 0.80% | 1,193,636 | $218.9M | Add +595.3% |
| WCN Waste Connections Inc. | 0.79% | 1,218,929 | $213.8M | Reduce -6.7% |
| NFLX Netflix Inc. | 0.76% | 2,204,532 | $206.7M | Reduce -2.6% |
| GOOG Alphabet Inc. Class C | 0.72% | 626,250 | $196.5M | Reduce -0.7% |
| LINDE PLC | 0.72% | 457,764 | $195.2M | Reduce -1.6% |
| ABBV Abbvie Inc. | 0.71% | 841,466 | $192.3M | Reduce -2.5% |
| HD Home Depot Inc. | 0.66% | 520,060 | $179.0M | Reduce -2.6% |
| APH Amphenol Corp. Class A | 0.65% | 1,309,115 | $176.9M | Reduce -11.9% |
| ABT Abbott Laboratories | 0.64% | 1,391,119 | $174.3M | Reduce -0.0% |
| BLK BlackRock Inc. | 0.62% | 156,478 | $167.5M | Reduce -44.6% |
| VRTX Vertex Pharmaceuticals Inc. | 0.55% | 329,745 | $149.5M | Reduce -1.9% |
| EMR Emerson Electric Co. | 0.52% | 1,066,276 | $141.5M | Reduce -15.2% |
| PANW Palo Alto Networks Inc. | 0.52% | 766,114 | $141.1M | Reduce -1.7% |
| Johnson Controls International | 0.51% | 1,168,507 | $139.9M | Reduce -21.9% |
| TMO Thermo Fisher Scientific Inc. | 0.51% | 241,101 | $139.7M | Reduce -2.8% |
| MELI MercadoLibre Inc. | 0.50% | 67,133 | $135.2M | Reduce -0.0% |
| ORLY O'reilly Automotive Inc. | 0.49% | 1,472,618 | $134.3M | Reduce -3.1% |
| EOG EOG Resources Inc. | 0.45% | 1,166,383 | $122.5M | Reduce -1.9% |
| CRH CRH PLC-Sponsored ADR | 0.44% | 969,345 | $121.0M | Reduce -3.1% |
| SHW The Sherwin-Williams Co. | 0.44% | 372,284 | $120.6M | Reduce -1.8% |
| KLAC KLA Corp. | 0.43% | 95,881 | $116.5M | Reduce -15.6% |
| GILD Gilead Sciences Inc. | 0.41% | 908,802 | $111.5M | Add +467.0% |
| MU Micron Technology Inc. | 0.40% | 383,626 | $109.5M | Add +166.4% |
| TXN Texas Instruments Inc. | 0.40% | 621,184 | $107.8M | Reduce -2.8% |
| DHR Danaher Corp. | 0.39% | 468,869 | $107.3M | Reduce -0.0% |
| BSX Boston Scientific Corp. | 0.38% | 1,083,552 | $103.3M | Reduce -15.4% |
| UBER Uber Technologies Inc. | 0.38% | 1,263,424 | $103.2M | Add +393.0% |
| CHUBB LTD | 0.38% | 328,474 | $102.5M | Reduce -32.6% |
| UNP Union Pacific Corp. | 0.37% | 440,616 | $101.9M | Reduce -2.2% |
| Eaton Corp PLC | 0.37% | 314,572 | $100.2M | Reduce -12.6% |
| PLTR Palantir Technologies Inc. Class A | 0.36% | 551,983 | $98.1M | Reduce -1.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.33% | 176,654 | $88.8M | Add +1.7% |
| GD General Dynamics Corp. | 0.32% | 260,347 | $87.6M | Reduce -3.0% |
| MSCI MSCI Inc. | 0.32% | 152,584 | $87.5M | Reduce -0.0% |
| MRVL Marvell Technology Inc. | 0.32% | 1,029,271 | $87.5M | Reduce -3.0% |
| MAR Marriott International Class A | 0.31% | 274,008 | $85.0M | Reduce -3.1% |
| ICE Intercontinental Exchange Inc. | 0.31% | 518,839 | $84.0M | Reduce -54.8% |
| DDOG Datadog Inc. Class A | 0.29% | 585,984 | $79.7M | No change |
| SYK Stryker Corp. | 0.28% | 218,695 | $76.9M | Add +401.2% |
| NXPI NXP Semiconductors NV | 0.27% | 341,270 | $74.1M | Reduce -0.0% |
| PLD Prologis Inc. | 0.27% | 576,376 | $73.6M | Reduce -0.0% |
| EW Edwards Lifesciences Corp. | 0.27% | 854,314 | $72.8M | Add +1037.2% |
| JNJ Johnson & Johnson | 0.23% | 308,109 | $63.8M | Reduce -0.2% |
| EQIX Equinix Inc. | 0.21% | 73,440 | $56.3M | Reduce -0.0% |
| GWRE Guidewire Software Inc. | 0.20% | 264,525 | $53.2M | Add +4.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.18% | 898,327 | $49.4M | Reduce -2.2% |
| HDB HDFC Bank Ltd.-ADR | 0.17% | 1,288,840 | $47.1M | No change |
| AMD Advanced Micro Devices | 0.16% | 208,224 | $44.6M | Reduce -0.2% |
| LAMR Lamar Advertising Co. Class A | 0.16% | 351,328 | $44.5M | Add +27.1% |
| ORCL Oracle Corp. | 0.16% | 220,122 | $42.9M | Reduce -85.2% |
| PG The Procter & Gamble Co. | 0.16% | 299,035 | $42.9M | Reduce -0.3% |
| CBRE CBRE Group Inc. Class A | 0.14% | 244,230 | $39.3M | No change |
| CSCO Cisco Systems Inc. | 0.14% | 507,387 | $39.1M | Reduce -0.4% |
| RBC RBC Bearings Inc. | 0.14% | 87,057 | $39.0M | Reduce -12.9% |
| WFC Wells Fargo & Co. | 0.14% | 411,812 | $38.4M | Reduce -0.4% |
| UNH Unitedhealth Group Inc. | 0.14% | 116,115 | $38.3M | Reduce -0.3% |
| CVX Chevron Corp. | 0.14% | 247,240 | $37.7M | Reduce -1.8% |
| CAH Cardinal Health Inc. | 0.14% | 181,399 | $37.3M | No change |
| KO The Coca-Cola Co. | 0.13% | 524,293 | $36.7M | Reduce -0.2% |
| APG Api Group Corp. | 0.13% | 954,454 | $36.5M | No change |
| CW Curtiss-Wright Corp. | 0.13% | 65,613 | $36.2M | Reduce -26.7% |
| MPWR Monolithic Power Systems Inc. | 0.13% | 39,589 | $35.9M | No change |
| JLL Jones Lang Lasalle Inc. | 0.13% | 106,386 | $35.8M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 119,297 | $35.3M | Reduce -0.2% |
| CAT Caterpillar Inc. | 0.13% | 60,156 | $34.5M | Reduce -0.3% |
| COHR Coherent Corp. | 0.13% | 186,289 | $34.4M | Reduce -21.1% |
| ATO Atmos Energy Corp. | 0.13% | 204,494 | $34.3M | No change |
| MRK Merck & Co. Inc. | 0.12% | 321,557 | $33.8M | Reduce -0.4% |
| MTSI Macom Technology Solutions H | 0.12% | 197,529 | $33.8M | No change |
| NVT Nvent Electric PLC | 0.12% | 328,915 | $33.5M | Reduce -8.4% |
| TRNO Terreno Realty Corp. | 0.12% | 571,064 | $33.5M | No change |
| VMC Vulcan Materials Co. | 0.12% | 117,418 | $33.5M | No change |
| GS Goldman Sachs Group Inc. | 0.12% | 38,090 | $33.5M | Reduce -3.4% |
| NDAQ Nasdaq Inc. | 0.12% | 329,987 | $32.1M | No change |
| COKE Coca-Cola Consolidated Inc. | 0.12% | 205,228 | $31.5M | No change |
| VRT Vertiv Holdings Co. Class A | 0.12% | 193,245 | $31.3M | No change |
| ROL Rollins Inc. | 0.11% | 514,210 | $30.9M | No change |
| TECH Bio-Techne Corp. | 0.11% | 507,232 | $29.8M | Add +139.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $10K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 3,387 | $10K | No change |
Total filed on the 13F, all lines: $27.2B.
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -85.2% | 0.16% | −1.38 |
| BLK BlackRock Inc. | Reduce -44.6% | 0.62% | −0.60 |
| ICE Intercontinental Exchange Inc. | Reduce -54.8% | 0.31% | −0.40 |
| META Meta Platforms Inc. Class A | Reduce -1.8% | 3.04% | −0.40 |
| NSC Norfolk Southern Corp. | Reduce -89.4% | 0.03% | −0.27 |
| NVDA Nvidia Corp. | Reduce -3.0% | 8.08% | −0.25 |
| NFLX Netflix Inc. | Reduce -2.6% | 0.76% | −0.24 |
| COST Costco Wholesale Corp. | Reduce -7.1% | 1.28% | −0.20 |
| FIX Comfort Systems USA Inc. | Reduce -94.7% | 0.01% | −0.18 |
| GE General Electric | Reduce -19.4% | 0.81% | −0.17 |
| AMZN Amazon.com Inc. | Reduce -8.1% | 4.25% | −0.15 |
| HD Home Depot Inc. | Reduce -2.6% | 0.66% | −0.14 |
| CHUBB LTD | Reduce -32.6% | 0.38% | −0.13 |
| Eaton Corp PLC | Reduce -12.6% | 0.37% | −0.13 |
| ORLY O'reilly Automotive Inc. | Reduce -3.1% | 0.49% | −0.11 |
| LINDE PLC | Reduce -1.6% | 0.72% | −0.09 |
| ALC Alcon Inc. | Reduce -51.7% | 0.10% | −0.09 |
| Johnson Controls International | Reduce -21.9% | 0.51% | −0.09 |
| EMR Emerson Electric Co. | Reduce -15.2% | 0.52% | −0.09 |
| BSX Boston Scientific Corp. | Reduce -15.4% | 0.38% | −0.08 |
| MELI MercadoLibre Inc. | Reduce -0.0% | 0.50% | −0.08 |
| LYV Live Nation Entertainment Inc. | Reduce -55.6% | 0.05% | −0.07 |
| PANW Palo Alto Networks Inc. | Reduce -1.7% | 0.52% | −0.06 |
| HOLX Hologic Inc. | Reduce -92.1% | 0.01% | −0.06 |
| WCN Waste Connections Inc. | Reduce -6.7% | 0.79% | −0.06 |
| SIGI Selective Insurance Group | Reduce -96.5% | 0.00% | −0.06 |
| WTRG Essential Utilities Inc. | Reduce -93.3% | 0.00% | −0.05 |
| BRO Brown & Brown Inc. | Reduce -85.7% | 0.01% | −0.05 |
| TW Tradeweb Markets Inc. Class A | Reduce -91.2% | 0.00% | −0.05 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -89.4% | 0.01% | −0.05 |
| RVTY Revvity Inc. | Reduce -92.3% | 0.00% | −0.05 |
| CW Curtiss-Wright Corp. | Reduce -26.7% | 0.13% | −0.05 |
| ESE Esco Technologies Inc. | Reduce -24.6% | 0.11% | −0.05 |
| ABT Abbott Laboratories | Reduce -0.0% | 0.64% | −0.04 |
| POOL Pool Corp. | Reduce -93.1% | 0.00% | −0.04 |
| VERX Vertex Inc. Class A | Reduce -98.6% | 0.00% | −0.04 |
| USFD US Foods Holding Corp. | Reduce -29.4% | 0.09% | −0.04 |
| EOG EOG Resources Inc. | Reduce -1.9% | 0.45% | −0.04 |
| SHW The Sherwin-Williams Co. | Reduce -1.8% | 0.44% | −0.04 |
| ARMK Aramark | Reduce -27.1% | 0.09% | −0.04 |
| PM Philip Morris International | Reduce -1.9% | 1.26% | −0.04 |
| WSO Watsco Inc. | Reduce -86.6% | 0.00% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -2.8% | 0.40% | −0.04 |
| WRB WR Berkley Corp. | Reduce -19.9% | 0.09% | −0.03 |
| ABBV Abbvie Inc. | Reduce -2.5% | 0.71% | −0.03 |
| TTWO Take-Two Interactive Softwre | Reduce -20.1% | 0.11% | −0.03 |
| TSLA Tesla Inc. | Reduce -3.1% | 1.36% | −0.03 |
| TXRH Texas Roadhouse Inc. | Reduce -27.1% | 0.07% | −0.03 |
| APH Amphenol Corp. Class A | Reduce -11.9% | 0.65% | −0.03 |
| KLAC KLA Corp. | Reduce -15.6% | 0.43% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| RTX RTX Corp. | Add +595.3% | 0.80% | +0.70 |
| LLY Eli Lilly & Co. | Add +14.6% | 1.65% | +0.63 |
| MCK McKesson Corp. | Add +74.9% | 0.81% | +0.37 |
| GILD Gilead Sciences Inc. | Add +467.0% | 0.41% | +0.34 |
| MU Micron Technology Inc. | Add +166.4% | 0.40% | +0.31 |
| UBER Uber Technologies Inc. | Add +393.0% | 0.38% | +0.29 |
| AVGO Broadcom Inc. | Add +4.7% | 2.77% | +0.25 |
| EW Edwards Lifesciences Corp. | Add +1037.2% | 0.27% | +0.25 |
| SYK Stryker Corp. | Add +401.2% | 0.28% | +0.22 |
| MS Morgan Stanley | Add +7.1% | 1.31% | +0.22 |
| JPM JPMorgan Chase & Co. | Add +7.3% | 2.20% | +0.19 |
| AXP American Express Co. | Add +1.9% | 1.41% | +0.17 |
| IDXX Idexx Laboratories Inc. | Add +438.4% | 0.10% | +0.08 |
| ULTA Ulta Beauty Inc. | Add +828.0% | 0.09% | +0.08 |
| TPR Tapestry Inc. | Add +781.8% | 0.08% | +0.08 |
| WCC Wesco International Inc. | Add +1674.7% | 0.08% | +0.08 |
| TECH Bio-Techne Corp. | Add +139.4% | 0.11% | +0.07 |
| THC Tenet Healthcare Corp. | Add +957.7% | 0.07% | +0.06 |
| NTRA Natera Inc. | Add +590.9% | 0.07% | +0.06 |
| CRL Charles River Laboratories | Add +1558.6% | 0.06% | +0.06 |
| HURN Huron Consulting Group Inc. | Add +79.4% | 0.10% | +0.05 |
| CVLT Commvault Systems Inc. | Add +2160.3% | 0.05% | +0.05 |
| PODD Insulet Corp. | Add +643.3% | 0.05% | +0.05 |
| CHRW C.H. Robinson Worldwide Inc. | Add +613.5% | 0.05% | +0.04 |
| BLD Topbuild Corp. | Add +947.4% | 0.05% | +0.04 |
| LAMR Lamar Advertising Co. Class A | Add +27.1% | 0.16% | +0.04 |
| FROG Jfrog Ltd. | Add +23.0% | 0.09% | +0.04 |
| HUBB Hubbell Inc. | Add +16.9% | 0.09% | +0.02 |
| PR Permian Resources Corp. Class A | Add +21.0% | 0.06% | +0.02 |
| HAYW Hayward Holdings Inc. | Add +26.2% | 0.06% | +0.01 |
| HEI.A Heico Corp. Class A | Add +17.3% | 0.09% | +0.01 |
| NEBIUS GROUP NV | New | 0.01% | +0.01 |
| ESI Element Solutions Inc. | Add +11.4% | 0.10% | +0.01 |
| INTC Intel Corp. | Add +3.4% | 0.08% | +0.01 |
| AMRIZE LTD | New | 0.01% | +0.01 |
| RKT Rocket Cos Inc. Class A | New | 0.01% | +0.01 |
| SNDK Sandisk Corp. | Add +16.2% | 0.01% | +0.01 |
| AMCR Amcor PLC | New | 0.01% | +0.01 |
| CRWV Coreweave Inc. Class A | New | 0.01% | +0.01 |
| NET Cloudflare Inc. Class A | Add +36.2% | 0.03% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.7% | 0.33% | +0.01 |
| APO Apollo Global Management Inc. | Add +9.0% | 0.03% | +0.00 |
| OMC Omnicom Group | Add +67.8% | 0.01% | +0.00 |
| BA The Boeing Co. | Add +3.3% | 0.08% | +0.00 |
| SSB Southstate Bank Corp. | New | 0.00% | +0.00 |
| VST Vistra Corp. | Add +36.2% | 0.03% | +0.00 |
| WELL Welltower Inc. | Add +0.4% | 0.06% | +0.00 |
| BBIO Bridgebio Pharma Inc. | Add +53.4% | 0.00% | +0.00 |
| PRAX Praxis Precision Medicines I | Add +1001.4% | 0.00% | +0.00 |
| PL Planet Labs PBC | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,839 | $28.9B | NVDA, AAPL, GOOGL, MSFT, AMZN |
| Q1 2026 | 1,846 | $25.5B | NVDA, AAPL, GOOGL, MSFT, AMZN |
| Q4 2025 | 1,865 | $27.2B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q3 2025 | 1,887 | $27.2B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q2 2025 | 1,886 | $25.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,906 | $23.4B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q4 2024 | 1,925 | $25.2B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q3 2024 | 1,941 | $25.2B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q2 2024 | 1,913 | $23.9B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 1,897 | $23.2B | MSFT, AAPL, NVDA, AMZN, GOOGL |